Chinese shipbuilders tap rising cruise demand, rattling European rivals
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Shanghai
EUROPEAN shipbuilders' dominance in the US$117 billion passenger ship industry may come under threat as Chinese rivals move into the sector to tap booming local demand for cruise holidays.
China's government has earmarked cruise shipbuilding as a major objective in its "Made in China 2025" programme to upgrade its domestic manufacturing and support jobs at its shipyards, as domestic demand for cruise trips increases 30 per cent a year.
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